• We’ve had a busy day already today with a slew of economic items coming from Australasia in the early hours of the morning. Chinese Manufacturing PMI has come in roughly in line with expectations, signalling expansion for the second month in a row. The S&P 500 is barely moved however, with the dollar index slipping slightly from its peak.
• The big movers are the New Zealand and Australian dollars, helped by China data and NZ business confidence data. The NZD/USD is up 0.43%, with the AUD/USD not far behind.
• Elsewhere, the pound is dominating the euro despite strong German retail sales data and weak UK nationwide house prices.
Coming up today:
• Today we have UK Current Account data at 09.30, released alongside UK final GDP.
• From 10.00, we switch to Europe for CPI flash estimate and the latest unemployment rate.
• Then at 13.30 we have Canadian GDP, followed by US Chicago PMI at 14.45. Finally, we have US CB consumer confidence at 15.00.
Trade Idea:
The UK is hardly a bed of roses, but then the Eurozone certainly isn’t either and the recent EUR/GBP weakness reflects this.
The EUR/ GBP monthly chart below shows the pair approaching long term support levels that have held since 2008. These levels will break at some point, but it could take a few weeks if not months.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains. Summary:
Kiwi Rallies On Stable China
Morning Report: 09.00 London
• We’ve had a busy day already today with a slew of economic items coming from Australasia in the early hours of the morning. Chinese Manufacturing PMI has come in roughly in line with expectations, signalling expansion for the second month in a row. The S&P 500 is barely moved however, with the dollar index slipping slightly from its peak.
• The big movers are the New Zealand and Australian dollars, helped by China data and NZ business confidence data. The NZD/USD is up 0.43%, with the AUD/USD not far behind.
• Elsewhere, the pound is dominating the euro despite strong German retail sales data and weak UK nationwide house prices.
Coming up today:
• Today we have UK Current Account data at 09.30, released alongside UK final GDP.
• From 10.00, we switch to Europe for CPI flash estimate and the latest unemployment rate.
• Then at 13.30 we have Canadian GDP, followed by US Chicago PMI at 14.45. Finally, we have US CB consumer confidence at 15.00.
Trade Idea:
The UK is hardly a bed of roses, but then the Eurozone certainly isn’t either and the recent EUR/GBP weakness reflects this.
The EUR/ GBP monthly chart below shows the pair approaching long term support levels that have held since 2008. These levels will break at some point, but it could take a few weeks if not months.
Therefore a good way to play this could be a LOWER trade predicting that the EUR/GBP will close below 0.7600 in 90 days time could return 372% if successful.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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